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Rich Asplund

Cocoa Prices Settle Mixed on Currency Fluctuations

Ice NY London ICCO Ivory Coast

May ICE NY cocoa (CCK26) on Friday closed down -18 (-0.54%), and May ICE London cocoa #7 (CAK26) closed up +7 (+0.29%).

Cocoa prices settled mixed on Friday due to currency fluctuations.  NY cocoa was pressured by Friday's rally in the dollar index ($DXY) to a 3.5-month high.  Meanwhile, London cocoa recovered from early losses on Friday and moved higher after the British pound (^GBPUSD) fell to a 3.25-month low.  The weaker pound boosts cocoa priced in terms of sterling.

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